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Hormel Foods Closes Acquisition of Applegate

Hormel Foods Closes Acquisition of Applegate

Wednesday, July 22nd, 2015

Hormel Foods Corporation (NYSE: HRL) today announced the closing of its acquisition of Applegate Farms, LLC (Applegate), owner of the Applegate® brand.

Applegate® is the No. 1 brand in the natural and organic value-added prepared meats category. As a growing number of consumers choose natural and organic products, this purchase provides Hormel Foods and the Applegate® brand a faster path to expanded offerings in this high-growth category. Applegate will operate autonomously as a stand-alone subsidiary in the company’s Refrigerated Foods segment.

#grassfed #whatsinyourhotdog

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The 2015 annual sales for Applegate are expected to be about $340 million. The purchase price is approximately $775 million. Including estimated deal costs and fair value adjustments, the deal is projected to be neutral to Hormel Foods earnings per share in fiscal 2015 and accretive by approximately 7 to 8 cents per share in fiscal 2016. Hormel Foods expects this acquisition to be accretive to company growth targets. 

What's in your hot dog?

Posted by Applegate on Tuesday, May 12, 2015

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Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across more than 80 countries worldwide. Its brands include SKIPPY®, SPAM®...

Sliced deli meats, hot dogs, sausage, and bacon that don’t use antibiotics, gluten, casein, or taste enhancers.